ARRY (Array Technologies Inc.) stock is in for a key growth catalyst

As of close of business last night, Array Technologies Inc.’s stock clocked out at $20.98, up 2.84% from its previous closing price of $20.40. In other words, the price has increased by $+0.58 from its previous closing price. On the day, 3654269 shares were traded. ARRY stock price reached its highest trading level at $21.15 during the session, while it also had its lowest trading level at $19.75.

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To gain a deeper understanding of ARRY’s stock, we examine its different ratios. For the most recent quarter (mrq), Quick Ratio is recorded 1.20 and its Current Ratio is at 1.70. In the meantime, Its Debt-to-Equity ratio is 12.50 whereas as Long-Term Debt/Eq ratio is at 11.73.

Upgrades & Downgrades

In addition, analysts’ ratings and any changes thereto give investors an idea of the stock’s future direction. In the most recent recommendation for the company, Piper Sandler on September 19, 2022, Upgraded its rating to Overweight and sets its target price to $28 from $20 previously.

On August 18, 2022, Morgan Stanley Downgraded its rating to Underweight which previously was Equal-Weight and also lowered its target price recommendation from $17 to $15.

On August 05, 2022, Barclays started tracking the stock assigning a Overweight rating and target price of $20.Barclays initiated its Overweight rating on August 05, 2022, with a $20 target price.

Insider Transactions:

Investing in insider trades can also provide an investor with insight into how management views future stock prices. A recent insider transaction in this stock occurred on Nov 16 when Hottinger Tyson sold 8,500 shares for $20.74 per share. The transaction valued at 176,292 led to the insider holds 75,547 shares of the business.

Stacherski Kenneth R. sold 1,327 shares of ARRY for $24,409 on Sep 19. The Chief Operations Officer now owns 99,902 shares after completing the transaction at $18.39 per share. On Aug 26, another insider, Schmid Gerrard, who serves as the Director of the company, bought 7,000 shares for $21.66 each. As a result, the insider paid 151,650 and bolstered with 41,269 shares of the company.

Valuation Measures:

For the stock, the TTM Price-to-Sale (P/S) ratio is 2.16 while its Price-to-Book (P/B) ratio in mrq is 51.17.

Stock Price History:

Over the past 52 weeks, ARRY has reached a high of $25.91, while it has fallen to a 52-week low of $5.45. The 50-Day Moving Average of the stock is 17.53, while the 200-Day Moving Average is calculated to be 13.72.

Shares Statistics:

It appears that ARRY traded 3.94M shares on average per day over the past three months and 5.82M shares per day over the past ten days. A total of 150.32M shares are outstanding, with a floating share count of 148.52M. Shares short for ARRY as of Oct 13, 2022 were 20.61M with a Short Ratio of 19.20M, compared to 20.97M on Sep 14, 2022. Therefore, it implies a Short% of Shares Outstanding of 13.71% and a Short% of Float of 13.77%.

Earnings Estimates

As of right now, 13 analysts gave their recommendation on the stock of the company. On average, analysts expect EPS of $0.1 for the current quarter, with a high estimate of $0.17 and a low estimate of -$0.02, while EPS last year was -$0.07. The consensus estimate for the next quarter is $0.13, with high estimates of $0.28 and low estimates of $0.08.

Analysts are recommending an EPS of between $0.39 and $0.24 for the fiscal current year, implying an average EPS of $0.31. EPS for the following year is $0.95, with 13 analysts recommending between $1.39 and $0.66.

Revenue Estimates

In the current quarter, 12 analysts expect revenue to total $399.35M. It ranges from a high estimate of $431.7M to a low estimate of $272.21M. As of the current estimate, Array Technologies Inc.’s year-ago sales were $203.45M, an estimated increase of 96.30% from the year-ago figure. For the next quarter, 12 analysts are estimating revenue of $355.29M, an increase of 61.60% less than the figure of $96.30% in the same quarter last year. There is a high estimate of $459.5M for the next quarter, whereas the lowest estimate is $292.4M.

A total of 13 analysts have provided revenue estimates for ARRY’s current fiscal year. The highest revenue estimate was $1.51B, while the lowest revenue estimate was $1.42B, resulting in an average revenue estimate of $1.48B. In the same quarter a year ago, actual revenue was $853.32M, up 72.90% from the average estimate. Based on 13 analysts’ estimates, the company’s revenue will be $1.84B in the next fiscal year. The high estimate is $2.26B and the low estimate is $1.68B. The average revenue growth estimate for next year is up 24.40% from the average revenue estimate for this year.